101. Mr. J. T. Priceasked the Chancellor of the Exchequer the percentage increase in the cost of living since he introduced his Budget and his estimate of what the full percentage increase will be when his Budget proposals become fully effective.
§ Mr. R. A. ButlerThe Ministry of Labour's Retail Price Index was 133 on 11th March, June, 1947, being 100. The latest date for which the index is available is 13th May, when it was 135.
I stated in reply to a question on 18th March that the full effect of the reduction in food subsidies would be to raise the Index by about 4½ points. Between March and May the Index rose by 1 point on account of the reduction in subsidies, so that the full effect after May will be a further increase of about 3½ points.